Look Up! Avoid Painful Tax Bills With Proactive PlanningOct 24, 2022
Most entrepreneurs have experience the pain and frustration of getting hit with that surprise tax bill. While almost every entrepreneur has faced this agony at least once, there is a lesson to be learned, and we shouldn't be experiencing the same pain year-after-year.
This past weekend I re-learned a lesson the painful way when I walked into the open glass on of the back hatch of my wife's SUV. Why? Because I was busy staring down at my feet as I was loading things in for our weekend family trip.
Now here's the thing - I knew that class hatch was open, because that was my 78th trip to load stuff in the car (4 kids + 3 dogs = lots of stuff). I also knew from pervious experience that the corner of the glass was specifically designed to be the right height and angle to rip off chunks of my scalp.
...but I fell into routine and forgot to LOOK UP! Several choice words and some deep breaths later, I had been reminded of the importance of looking up and out to see what's in front of me.
Save yourself from the sting of a surprise tax bill this year. This is the time - now, before the year ends - to look up and figure out what is coming, so that you can avoid it.
To help, I'm going to be hosting a Tax Planning Challenge in November. In this Challenge, we're going to help every entrepreneur in attendance to project their tax bill for this year, and then to lower it by as much as HALF by selecting and implementing the key strategies from my Tax Planning Framework.
I'll be announcing the dates and the specific agenda this week, so stay tuned.
And remind yourself often to stop staring at your financial feet, and LOOK UP! You'll avoid a lot of pain.
Wealthy entrepreneurs don't stick their heads in the sand when it comes tax strategy and financial planning.
Rather, they achieve and maintain their wealth by understanding and actively managing their money. Wealth Savvy Entrepreneurs are MORE involved in their tax and financial strategies than Financially Frustrated Business Owners, who often prefer to delegate everything to their accountant so they don't have to think about it.
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